Bitcoin Forum

My major problem in trading most definitely is Poor risk management. I sometimes see myself more like a gambler then a trader. With that usually comes overtrading because i want to trade for kicks, and even losing gives me kicks. But i try to combat that by trading with at least 4h candles so the time between the swings will be longer, and i will use 1d candles too just to be sure. And naturally leveraged trading is a problem for me.

I have been personally medicating my adhd to not to be so reckless, that i can keep a clear head and most of the time i try to do the exact opposite that my feelings are telling me. Just because i know that the whole game is rigged against my feelings, and markets usually act the exact opposite of how i feel of them.

I admit that some of you might not see some these options as problems in crypto trading, and sometimes aping in is a way to make the big bucks.

TLDR; i guess i wanted to ask that have you guys learned any lifehacks to overcome your weaknesses?

It's not just you OP, a lot of traders have the same problem with you, even me, I admit that.
With poor risk management, you will gonna lose your all money 100%! That's why the best advice I can give to a newbie in trading is to practice risk management first. Because in risk management, you can minimize the risks and maximize the profits, always have a plan before opening a trade position.
If you are just starting to trade, try first small capital, and of course it will come with a small position size for every trade.

Think of the profit, once you've gained already within the day and that's an acceptable amount to you then stop. We as traders have different approach how to combat weaknesses but avoid being too greedy because it will always put you on the ravine which means you're likely to lose.
There's no problem on you how to do trades and risk management is really what you needed to have. Just determine your goals within the day and as long as it is profit, be contented.

You are very correct. Even long-time crypto traders are guilty of some of those weaknesses. I guess, no one is perfect when it comes to trading. But experience will give you insights on how to improve your trading skills. No one is immortal in trading.  ;) But I usually am guilty of being impatient. Because sometimes I don't want to wait that long, so I will end up selling my coins as soon as I'm tired of waiting, as long as I'm already in the positive side.

I am having a problem with Falling in love with the coin and having a hard time to exit, Not taking the profits fast enough because I am falling in love with bitcoin, so I don't take the profits fast price increase. But I still profit although the profit is not bigger than before the price is down, and I am still grateful for that. I don't feel that needs to combat my weaknesses because as long as I can make a profit, that well enough for me, and I don't think that chasing the profit will be too important for me. I can see that I can make more profit another time if, at that time, I don't make more profit. We need to be grateful because we can profit from trading and not feel bad if we are only making a small profit.

But think about it, which coins are really easy to fall in love with? Most don't even have a real utility, the ones that do are pretty old and have a good strong community (and I'm not talking just about those who shill and hodl and never use).

Bitcoin and a few alts are the only ones capable of holding our "love" really, right?:)

You need a trading system with rigid rules. A couple typical rules you should never break:

1. Always have a plan before entering a trade. That means a pre-determined entry, exit, and stop loss. Never trade without a stop loss.
2. Never enter a trade without sufficient reward vs. risk. A decent rule of thumb is 3:1. That means if your planned exit doesn't net 3x what your planned stop loss will lose, wait for a better trade setup.
3. Never allocate more than x% of your total capital to a single position. You shouldn't be going all in on a single trade.

And so on. Post them on your trading monitor. Read them. Live them. You'll never be a successful trader without proper risk management.

My main problem in trading is not following a strict plan and therefore the results are often unsatisfactory, I am making profits but not fast enough, often I make winning trades, but at the end of the month I discover that I have not made much profits or that the capital has not increased So much, I think the reason is haphazard trading or the lack of a clear plan.
I also suffer from a lack of patience and this causes not to make good profits, I am currently trying to devise a strict plan that I follow and also try to train myself in patience.

You know what triggers poor risk management?, seeing that many coins are going up by a big percentage but you just bought a small amount of these coins which gives you that "missing out" feeling, what maybe could help you with that is to take a look at the red side as well and see how many coins are lost 10-30% in a day and the fact that could be as easily be buying one of those coins and be in huge loss because you risked more than you can afford to lose.

Diversifying and having some hedge options could help you a lot while trading and if you used them long enough you probably had seen benefits in using them at least once or twice when the market flipped all of a sudden to the other side.

I hope there is something like "lifehacks" that exist.  :D
We are never alone in the losing end. Hell, those exchanges won't make anything without traders losing.
All you can do is learn from those mistakes.
I do make a lot of errors before and not just minimal. The greed that would cost everything.
But on the road, you will learn to be calm and make better decisions.

all have it and all understand it. it's not just us as small traders who only play with $ 1000 or even less. Expert traders also have it, it's just that they never consider weakness as a deficiency especially with a lack of knowledge in trading, so that it keeps us learning from mistakes and trying to fix them.

The options above all could be a weakness for different user. Some do poor risk management. Some are are too greedy means don't want to take profit first time and expect big one and lose at the end. Some are have no patient. Some can not afford the lose and go panic selling and thus lose everything at the last moment.

So always we should be prepare about all things around trading. If someone can achieve the ability to control all the weakness above could be a Better trader.  So as always newbie should achieve those knowledge first before going to trade.

Even this weakness often happens to us, not all can be controlled properly, even if there is bad news, we immediately panic about how the asset value has decreased, that's what I have to fix in that weakness, and greed will not make us better results, instead the risk will be. higher even though management has been set.

I just think that every time there is a profit, what percentage of it I will sell, indeed in every trade, there is always a different way to the strategy, but we have to know which option is better to use and differentiate it.

It is really nothing too easy to trade. After all we are talking about money and in a world where EVERYONE wants more money, it is not really simple to make money. You can try to do everything right and still end up losing money, it is really not easy.

We have people who have over hundred billion dollars aiming to have even more money, think about that, if Jeff bezos or Elon must went out and said they want to sell the shares they have and get out and retire, they would have at least 100 billion dollars, would be hard to get that much money together by someone else but they could potentially do it, but noooo they are trying to make more money. So, crypto is similar, there are traders who want to make money and considering each side wants money, a trade can't have both sides winning, and that makes trading a lot harder than it looks in reality.

In order to stop your weakness, you need to practice more and more. By practicing, you learn more and obtain more knowledge whereas experience is gained during this process. I highly recommend you to use demo account with demo money to experiment your new methods and improve your weaknesses

Exactly, were should have equally balance these two emotional things not to become more or less doing risk management. It could be neutral to the risk management if you will beyond that which is lead to becoming greediness. To combat weakness in trading you should have first full of knowledge before engaging in the field of trading. This means that if you have the knowledge, you can control your emotions because you know how to limit it not become worst of poor support that becomes your weakness in trading.

Be confident is the way how to fight weakness.

When it comes to weakness then all of those mentioned would really be seen when you are just starting on trading since we are just totally noobs
when we start and no one do start on being a pro.Therefore, those mistakes are commonly be seen or experienced.

How to combat it? Then with enough experience you would able to eliminate those things gradually and the more you do engage or been trading
the more experience you will gain and the more control you would have into the situation.

This process will take time and don't expect that you can get rid of this in a short span of time.

If you are making profits then isn't that satisfactory enough? If the profit to capital gap so close then I can understand that it really is unsatisfactory but I think what you should do some meditation before doing some trades to help yourself clear your mind of burdens, trust me it helps. I am more on the poor risk management so I can't empathize that much about your problem but now that I think about it, I am impetuous when it comes to making decisions.

Bitcoin is the coin that makes me fall in love, and that is why I am having difficulty in selling, but I also have the altcoins that making me love. I am trying to sell my bitcoin because I am trying to make a profit from bitcoin, and if that is difficult, perhaps, that is because I don't see that the profit is not much for me, so I am trying to hold it for more.

Sometimes, making a profit will not satisfy us because the price does not reach the price we want. We sell the coin because our analysis says that the price will go down too deep, so if we sell for some amount, we can buy back at a low price. That can help us have more of the coin, and we can make more profit when the price increases.

OP,what do you mean by "poor risk management".I think that poor risk management is a term,which summarizes all the other weaknesses that you have mentioned in your poll.
Some of things you mentioned sound ridiculous to me,like falling in love wit a coin or not diversifying enough.
In crypto trading,you can't fall in love with any coin,because you have to constantly buy and sell for profit.
Diversification isn't possible in the crypto market,because all the altcoins are simply following the Bitcoin price,therefore they have a direct price correlation.

There are no perfect traders, surely every trader has weaknesses. Only ourselves know the trading weaknesses we have. Then how to combat
my trading weaknesses by overcoming our own weaknesses so as not to hinder getting profit from trading. Because if our weaknesses are not
overcome immediately, it will create problems in the future. Or we can also maximize the advantages we have, so by itself it can cover our
weaknesses.

The most important to note is not to be too excessive and overwhelmed by the trade, not every trade will bring profit and as a trader it is better to understand it and know when to call it quit especially when you are having a bad day, nobody is perfect, trade with what you can afford to lose and have a positive mindset even though it will not always be a smooth ride.

Op has given 14 basic options that traders must know and to avoid these emotions and I think, if you have these weaknesses at least 4 of them, you're not truly traders.  Since start when you are planning to become a crypto trader, you should have a game plan and all of these were a part of it.  Trading isn't an easy task or job, it required skills, knowledge, and most importantly strategies.  So if you have weaknesses, you aren't ready for trading.

I tend to agree with this, there are no perfect traders out there.  Even them were possibly encountered losses, even though they are trying to avoid their previous mistakes but it will keep repeating due to some reasons.

That's the common mistake that we have to correct as traders. We're sometimes being carried away by the hype that we can't even do something to minimize the risks. Starting with a small capital will serve as a good training ground for us to practice actual trading which is needed for us to familiarize the possible risks with the market movement.

There is no other way for you to learn more about trading to prevent loose money and you will have a chance to make a profit.
But what you say is right that we are often to make a wrong analysis in trading, and we feel that is gambling to us.
We need to know how to analyze better, so we can avoid making a wrong analysis, and we will know how to enter and quit from the market.
Many of us become greedy to see the profit, and we want to chase the bigger profit.
Although I often make a mistake, I will not stop learning about avoiding making another mistake by learning, so at least I can get a lesson in trading that will improve my skills in the future.

My weakness is my lack of patience. I am a fraction of a restless person so I have distress being calm in trading. Trading is not a restricted income but an income based on time and market situations. But this is my weakness. It will seize me a long time to get over it. But as long as I can't reap over it, I won't be eligible to extend a good position in trading.

Yes, I agree with you on this. Indeed, I need to clear my mind a little before starting new deals to help myself de-stress and start over with a fresh start. Resting for a period of time is necessary to continue working with a clear mind, also as you say you should be managing risk and loss More important than taking profits. A trader has to repeat his accounts every time and know to set his foot exactly.

the most basic weakness of a trader is their psychology. No matter how good their knowledge of Technical Analysis and Fundamental Analysis, if the psychology is not in good shape then every decision will not be in accordance with the initial strategy that has been made. Sometimes psychology also affects how greedy you are when prices start to go up. Psychology will continue to be played when the market starts bulls and bears. Feeling enough of what you have achieved is something that must be done.

I'm sure you will overcome your weakness over time as long as you keep trading and learn psychology in trading. I've also been a victim of lack of patience, I've encountered many position loss before I realized that I have improved my patience. Sticking to the plan is one of my resolutions to cure the impatience of me.

Poor risk management ?
-Try to manage up funds that you can risk on a specific situation

 Not taking the profits fast enough ?
-This do talk about short traders because every tick of time does really counts.

 Falling in love with the coin and having hard time to exit
-For Bitcoin and some top alts, then why not? Just dont exit when you are in loss.

 Not following the plan
-Always have a plan, dont go to battlefield without having one.

 Trading too often
-It isnt bad but be sure that those are worthy trading times for you to do so.

 Not Using Stop-Loss
-This is only for Day/Active traders.

 Getting fomoed in too easily
 Panic buying too often
-This is about emotion and this is something that cant be handled easily.


And the rest are just pretty basic. Combating weakness and getting rid of it will matter on how experienced you are.

Weaknesses have come to our mind and everything will be changed if we have a negative mindset. Thus, all of the negative results will surely come to us. If you want to win this thing then we should keep ourselves very positive about the future. The dump is the most common reason why people think about the negative but if we stick to the positive side, we can definitely conquer such weakness.

It is now clear to us that nothing could change the flow of our trading carrier, it is just how we respond to the possible losses we get. Kinda a trick, a reason that many fail to succeed and leave trading.

Most exchanges don't care if we are losing or not, as a big part of their funding model are the tx fees. And big part of the traders are doing spot trading anyway. So exchanges don't get any more no matter if they lose or not.

But by "lifehack" i meant more like a mind trick that keeps you focused when you need to act against every instinct you have. Like buying when you are afraid and sell when you are greedy.

Indeed, it is certainly not easy to be able to overcome patience in trading, especially when the market moves very fast and especially when the price is in a position when the price is increasing, the price movements up and down cannot follow what we think of course, mostly the opposite is what we think , so in addition to learning to overcome impatience, we must also be able to overcome panic in our trading of course, because panic can make us suffer a lot of losses in trading.

The best way to combat weaknesses is split capital to different amount and use each batch of them to trade. If you split your capital to 10 parts, you will have 10 chances to trade, and lose all of your capital. If you don't split it, you will have a single chance. Lose it one time, and lose all capital.

It is not only about how many times you have to trade and lose, it is also about time you are in the market. It takes up to 4 years for you to be a good trader in the crypto market only if you learn well from your loses. Don't borrow to trade and it can result in suicide when you lose all hope and belief.

I have always said that if you want to become a great trader, first you have to be a good investor.
Maybe the best method of raising a great trader would be getting some coins and keeping them for a very long time.

If you invest into say 5 coins? That should probably be enough, wait for 5 years and do not touch them, no matter what happens NEVER touch them, you are free to buy more of them if you want, it is allowed to buy as much as you want, but you can't sell it for 5 years no matter whatever the reason is (unless it is a life urgency like health or eviction or something like that but no withdrawing to take profit).

If you can do that, after 5 years you will have zero problem becoming a great trader, because you will be capable of studying, learning, watching and knowing everything that happened while staying out, now you will do it while being inside.

Not only my weakness, many people weakness is money.
When i see that my coin’s price are falling. I really feel terified.
I think to sell, and often end with that only.
For this I already made too loss, as after i sell the coin, the price increases.
But if you see in other way, then it’s better to have something than nothing.
And i am overcoming this weakness of mine, by not investing in volatile coins.

I think that's basically true for all traders.
But there are traders that know how to handle themselves.
Maybe because of experiences and such.
On my end, after I sold my coins, I don't go back and check its price.
Because if I will do that, my head will go crazy if the price increases.
So better move on once you finished your trading.

Referring to the OP, there are only methods to correct yourself. What problems you face are common but you can make amends to change yourself.

Also, don't fall back on  illnesses as to a reason for your problems. Many people out there are sick but working themselves out of it and seeking help.

Now in case of risk management, my straight advice is not to go with any altcoins but bitcoin. That reduces a lot of risk right away. Now if you are day trading then I hope you have already worked on how to read indicators and charts.

Lastly if you feel you are not being able to cope up with trading or facing a lot of mental problem due to it, it is better to move on with it. Sadly not everyone can cope with the mental trauma that is often there.

I have several weaknesses when trading, including not following the plan, lack of patience and panic selling. These are the three weaknesses that
I still frequently do and try to fight so that they don't happen again. The method is to have a strong commitment to be more disciplined
in implementing strategies when trading, then more often do analysis when trading. In these two ways some of my weaknesses that I have
mentioned slowly have rarely happened, but it is still difficult to eliminate 100% of our weaknesses in trading. Because there are always situations
that often make us make mistakes.

From your situation i think you have to learn and understand very well course such as market psychology; as well as a trading psychology. This should help you to understand that as a trader you need to have a trading principle or plan; and good discipline to follow your highlighted targets. Work on  your discipline as a trader

"You may only select up to 14 options" but the options are fixed at 14 and last option is extra . on the option there is "playing it too safe" but is this a weakness ? because i think its not . on trading we are doing are best to play it safe because risks or too much risks are deadly and can turned into loosing . most of the options are repeating , i dont need to special mention it all because its alot but see for your self . my main weakness is not following my plan or i sold too early and too late leads me to small profit . hard to say but its hard to combat this weakness until now but im trying my best

Not taking the profit at the best time which also goes with not following the plan. When it goes your way, you tend to get too excited and fail to work with it and it's very bad. Not following your own rules. Of what essence is having a rule if it cannot be followed judiciously.

Being contented and knowing when to say yes, it has reached my target and you just live the market and let it be is key. If your able to do this kind of trading pattern, your loses are put in check and also your profits very much guided too.

Not for me but for many people is the panic selling combined with emotions.
I chose other for the emotional trading, because it is a common weakness here because of course it's money.
Life hacks? Probably stop trading and just hold any top crypto you hold. You'll forget any worries, unless you're full-time in trading which is gonna be a really rough experience especially when you throw all your money in here which isn't advisable.

Its really hard to say on controlling fully your emotions when you are actively dealing with the market.This isnt something that you can just be numb and wont really be affected at all.
Even those professionals or veterans on this market do commit up some mistake due to emotional kind of decisions which isnt surprising.We are risking our money and its just normal
that we would really be worried nor got stressed in case we do lost thats why every move that we do make then we would really be definitely be careful.
Weakness is there and it cant be completely get rid of but somehow can be controlled with due experience but this cant be attained in a short time.

Lack of patience most of the time because I’m too eager to make profit and sometimes I sell early even if its not my target price to sell and being impatience cost me a lot of money. Well, luckily I was able to improve myself in the past months and I was able to sell at the peak and now we have to be more patience again as the market goes down, and wait for its recovery.

I also playing too safe :) The minimum risk will generally bring minimum return you know. But at least I sleep well.  

Playing  safe is what we do really like on where keeping losses as minimal as possible but there are people who arent really contented on the money or profit that they do gain.

Human beings are naturally greedy inside thats why that contentment will surely in result into further actions which on having that gambler had in mind.

In result? They would need to risk bigger to gain more bigger too. Risk:Reward ratio as we all know and this is one of the weakness but somehow if you
can able or manage to handle it out and turn out to be on your side then that would really be worth of.

When I see a situation where I know it's not the best for my abilities, I'm trying to stay away from trading. For example: when there is a too big gap in prices, I'm trying to stay out instead of guessing the price direction. This and other similar small steps improved my results over time a lot.

That's exactly what we do.
We don't need to push ourselves into a thing that we never know. Trading is risky, almost everyone will fall into losing if mismanage, weak hands can no longer consider this as their best shot coz this will only give them losses instead of profiting.

Weakness is a part of our life, you can change it depending on your mindset but not all had won, some remain afraid and a lot of worries.
What I do in my life is to be more positive, which helps to keep our mindset positive as well.

As we don't know what will happen to the market, we react mostly on what we are seeing in the current market.
Just like few hours ago, bitcoin touched below 30k. Guess, a lot of people panicked during that time period.
They don't know if the decline will continue or not. But fortunately, it goes up again.
So those that bought some btc in that short dip is already gaining profit now.
But for those who sold because of the fear that it will go down more, has lost some of the profits.

That's very important, sticking with your plans and execute whatever the situation. Traders find it difficult when they've seeing bullish market, greed inside conquer yourself leading you to lose your opportunities once the downfall start to run so fast.


Precisely. Having that attitude towards this market gives you a high chance to see better results. It's all about patience and emotionless trading activities that guide you to a successful journey inside this industry.

Have you tried doing the opposite though? Although it looks counterproductive, that can be a good lesson to learn, for me I find making mistakes the best way to learn in trading albeit the mistakes cost me a small fortune, I do not mind because I know that making the same mistake will not happen again. My way to combat my weakness in trading is steeling my nerve into taking the rational approach instead of a panicked and emotional one which is really difficult at first but once you become good at it, a dump will not even flinch me into panic selling.

No problem with that. The important thing is we know how to minimize the risk in trading because if you do not know about that, you will not be able to make a profit and get lost many times. Playing safe will be our concern in trading and do not forget that we also need to manage our emotions to act based on the market situations. If we think that the conditions are not right to trade, we do not need to continue trading.

Yeah, same with me. Most point that you mentioned I did often as well, like panic buying when I do this thing the price back to fall because I wasn't consider the other factor like I didn't see the harmonic pattern and etc. Also panic selling, this is the worsting to do. Buying the coin at the high price and the price just decreasing in the lower time frame and I was afraid and sell my coin.

Indeed, we have done this thing many times but seem like the habitation can be reduced quickly. We know that those thing can we take them as our experience but in the trading field we can't forget it quickly. Our psycology will act as the same thing like before, we know that was wrong but we will do it again. My point is trading need more time, at least you need 3 years that you can take an experience and didn't do the same thing after you make a mistake. After that, you will become an adult trader and can provide passive income.

That panic is something you can get under control, do not make it something you have to live with, because it is something you can get rid of by working hard. I know it sounds very hard right now, but it is definitely something you can do if you want to. I personally believe that there is a chance you could just hold until your plan happens by just not looking at it daily and just arranging everything you can.

For example, let's say you bought at 10 and you put a stop loss at 8 and you put a sell order at 20, that means you could get out, do whatever you want and not take a look at it. You can get notifications of movements to your phone for most exchanges as well, which means unless it does something you will not get anything but if one of them happens you will be notified. That way you could forget that you are in crypto and you will be capable of not having any panic by checking the price every 5 minutes.

Trading is not easy to handle. First, you know the market price every day. Then easy to trad. Trading is connected the most of the people. So people will know you and increase the people's trust. This import of the improve you trading circle. Use the below link
https://www.investopedia.com/terms/t/trade.asp

Average choice on OP voting leads to Lack of patience.
I am a person who is impatient in trading, so that the initial plan that was prepared did not go well. As well as very bad risk management,
I do not control the risk of trading.
Patience is related to psychology, because it is necessary to train psychology well.
When psychology cannot be regulated, trading will only result in losses, all will be chaotic. panic sell and panic buy will continue to be repeated.
It takes time to understand ourselves so that psychology becomes calmer and trading can be according to the initial strategy.

Well to a point it's not a problem. But if you play constantly too safe you won't be making too much money and you will be better off just investing rather then trading.

Everything will be directly proportional to the risk generated, if we want it with minimal risk, the benefits will also be minimal. but it is different if we want it in the long run, because it is not impossible with minimal risk but can get big profits,I think that's good enough to run.

But not all  would really be having that kind of patience on where they can really be willing to wait for definite timeframe for them to take out those profits  thats why
some people would really tend to switch up from long term to short term due into that very reason.Even myself had experience this kind of thing too on where
im really that too impatient into things and decided to go for active trade rather than on simply holding.In first encounter then you would really be a hard time
on grasping everything but once you do able to get the idea and how things done then you would really appreciate that shorter duration.

I think my major weakness was trading too often. When I first started trading, I had this mindset of trading often so I can make more money in a short time. I, however, realized that it did more harm that good.
I realized I lost more in process of making money. This is because after losing a particular trade, instead of taking time to cool off, I continue trading with hopes to recovering. Little did I know that I have psychologically affected by that one loss and taking some time off is necessary to radical decisions that can lead to profits.
I have now overcome that such that I place some few trades with the necessary risk management and take time off the system. If it touches my 'take profit', I make profits and if it's the other way around, we'll I didn't see it when it happened.

My major problem in trading is Playing it too safe...
it's not without reason I do this, I don't have a big capital for me to trade, so I have to play it safe, but because I play too safe, I get a little profit. it is true that those who dare to risk are the ones who are sure to get big profits.

Poor risk management and decision-making are truly my weaknesses, especially when the market crumbles without warning. I admit that because of not making the right decisions, I had missed a lot of opportunities in both airdrop, trading and converting at the right time.

On how I combat my weaknesses, I keep learning my lessons despite it’s hard to accept about missing on something. I never stop learning. I read motivational books or watch some videos to keep me motivated in all life aspects about accepting the result and learn to move forward. Improving my trading skills and decision makings would make things a little bit better to cope up with my weaknesses.

Okay here is the issue which you have pointed out yourself and that is money management. Using a 4th candle or a daily closed candle of the previous trading day won't matter if your management of your risk appetite is not normal or bad. In a football match, a coach who leaves his defense line to be bad should expect to conceive goals anytime something goes wrong upfront because the opponent is going to come after the defense. This is a simple analysis of how trade is. All the time we need to have a good management of our capital.

I'm also guilty with playing too safe, I often just sell whenever there's a minimal drop in price since I experience it before after 2017 hype the altcoins price drops Continuous with minimal amount and when I woke the price is least I expect. It's better to be safe now than sorry, atleast being safe means having small gain or minimal loss.

I feel quite experienced in crypto trading, so I rarely experience big losses from crypto trading. But I also have weaknesses in trading, often I play
too safe and too careful when trading. So sometimes I miss opportunities to get big profits, because I always sell my coins before my target is reached.
For the selection of coins for trading, I am playing too safe, only trading using popular coins. I don't dare to trade using new coins that don't have
a track record and are not yet known, even though some new coins have an increase in price sometimes much higher than old coins.

So far I have not found an effective way to combat my weaknesses in trading, maybe I try to change my way of thinking and have to be brave enough
to take risks. I try this year to wait for my target to be achieved, recently sold my coins and also i will try to buy 2-3 new coins. Hopefully these coins
can be pumped and give me a big profit too.

Conquering your weakness when it comes to trading seems to be difficult to be done specially when you are inexperienced and still a first timer on the field but as time goes by, you can be able to manifest coping mechanisms on how you can deal with your own weaknesses because you are learning already from experience and now you are getting aware of the possible outcomes making you brilliant to conduct measures that can save you up once you've been stuck into the same situation again. I do have also problems taking into my weakness on my first tradings because I find it like I am wasting money having losses but due to experience and thorough observation on the matters with trading, I learn to cope up and make possible measures to conquer it.

As a trader we have to know how much risk that will be faced, not just you make an entry and you don't know how much money that you can afford to lose. In all stuff there will be a risk factor, what will you do or what will you choose there will be a risk, investing is also have a risk and I think it is same with trading.

Count how risk that will be faced when you make an entry. You can match the capital you have, but usually the average trader will only subtract 1-2% for the losses he will face. The reason is simple, when your stoploss getting reached your psycology still comfortable to trade again, and also your strategy will be confident to recover your losses.

Not taking risk does not mean you are bad. It means you are cautious about how much you spend and what you spend on. If you ask me, I would tell you to go with bitcoin only because this directly reduces the risk involved with trading. On buying bitcoin at low and selling it at high like it has happened this month, you will be guaranteed to make profit but I cant say the same for any altcoin.

Though you can go with risky trades on paper. It is called dummy trading using a virtual capital and observe your results there to get an idea how good or bad you might end up with that capital.

As a rule, such difficulties are associated with emotions. Almost always, they are connected precisely with the fact that we cannot or do not yet know how to control our own emotional manifestations, which forces us to commit rash acts being under the control of our emotional background. Personally, I try to create within myself the right relationship to certain things that cause me anger, euphoria, greed, and so on. After that, emotions affect me much less.

You should avoid on bumping up threads that had been inactive for a month and few weeks.You should avoid this kind of behavior if you dont like some problems later on.
Dont necrobump or grave digging because its one of the violation of this forum.

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On topic reply- I have chosen my weaknesses in trading.

Not taking the profits fast enough
Trading too often
Getting fomoed in too easily
Lack of patience

Even ive been trading for years now but still i do have this kind of weakness which cant really be removed or get rid no matter how hard i do try to resist.
but somehow you can able to control it once you do really gain up sufficient experience.

One of my mistakes is that I did not know that Exchange was convenient for me, if I had the tools that every trader should have, at first I just went to any exchange without knowing how much fee they were going to charge me per transaction, per withdrawal, but it already took me time through a lot of trial and error to get to what he wanted. And I learned that the best Exchange is the one that offers Stop Loss and Take Profit to use them at the same time, this helped me to release stress and not be glued to the PC.

To be able to overcome risks, it is necessary to have a well-organized strategy. You should definitely know about risk management science or business risk management. If you are brave enough to face risks, you must also have careful preparation beforehand. Here are 4 easy risk management tips from me.

1. Perform Risk Identification
You can try to identify what types of risks can arise, whether from the financial, marketing, production, and so on. This risk identification can be useful to identify possible risks that are or will occur in your business. The output of this risk identification is a list of every risk that can occur to your business.

2. Ranking Based on Losses
After having a list of various business risks, it's time for you to analyze and sort them based on the worst impact. Focus on the risks that are greatest and most often experienced, especially for similar types of businesses. Find out what the impact is on you, your employees, the continuity of the company and the environment.

3. Perform Risk Control
This list of risks will be meaningless if there is no action plan that can be taken to overcome them. In responding to business risks, there are 5 forms of attitude that you must take, such as:

a. Risk Avoidance
These attitudes are often ineffective because avoiding these risks means that you don't dare to take the opportunity to try and deal with risks, you don't even learn anything. This action means that you do not take actions that could cause this risk to occur, including not carrying out a business strategy that has been formulated.
b. Risk Reduction.
This means looking for an action to reduce losses from a risk that could occur. There is a possibility that the risk will occur, but the impact is minimized as much as possible. For example, a fire detection alarm system, fire can still occur but the risk of loss can be reduced by this system.
c. Risk Transfer
In addition to avoiding and reducing risks, you can also shift risks. You can transfer responsibility to another party by paying for these services. For example, if you have a glassware company and you have to send it to a place that is quite far away and the road is inadequate, than you or your own employee who delivers it, you better choose to pay for a delivery service that has glassware insurance. Of course you will transfer the risk to this introduction.
d. Risk Retention (Accepting Risk)
Accepting means that you can only let the loss occur. This attitude is certainly taken if there is no other way of dealing with it. For example, if you miscalculate money or send the wrong goods, of course you have to accept losses like it or not. Also keep in mind that if the impact of the loss is too large, it is better to avoid it than to accept it.

4. Monitoring and Review
After you have successfully identified the risks and selected a strategy that can be applied to each risk, it is time for you to always be aware of all the issues at hand. An issue is a symptom of a risk or even an impending crisis. An issue certainly does not always have symptoms, but at least after getting to know these types of business risks, you will know where your focus will be if these risks occur. If an issue has become a true risk and created a crisis, it's time for you to resolve or evaluate whether your action against the risk worked as you planned or not. At least after you have succeeded in getting the results of this review, you can use the problem as learning material to be better at facing this risk again.